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The grant program will help blockchain developers push the development and expansion of Web 3, gaming, Metaverse, DeFi, and DAO projects.
On Thursday, April 21, the Layer-1 Proof-of-Work (PoW) protocol Kadena announced its $100 million grant program supporting developers building the Web 3 ecosystem. Kadena said that the fund will focus on boosting the growth and adoption of the world-changing blockchain technology.
The recent grants program is part of Kadena’s strategic initiative ‘Kadena Eco’. The goal is to bring the top industry talent and thinkers together to fuel Kadena’s growth through the development and expansion of Web 3, gaming, Metaverse, DeFi, and DAO projects.
JPMorgan blockchain alumni Will Martino and Stuart Popejoy founded the Kadena network back in 2016. Speaking of the recent development, Stuart Popejoy said:
“The future is blockchain. We’re empowering builders to pioneer new projects that transform the world, and we’re doubling down on our promise to make that happen by actively and responsibly deploying our treasury resources to ensure long-term sustainability of our ecosystem.”
Accelerating Growth with the Grant Program by Kadena
Kadena’s proof-of-work blockchain gives developers the liberty to build a wide range of applications without any major limiting factors. Under the recent grants program, Kadena will evaluate applications based on technical strength, detail of specifications, team experience, and other factors.
Furthermore, all open-source and high-quality projects operating in Web 3, Metaverse, DeFi, and DAO must be willing to adopt Kadena’s “build in the open” philosophy. In return, Kadena Eco shall offer community leadership, engineering mentorship, in addition to the monetary supply. Kadena Eco CEO Francesco Melpignano shall be leading the project to accelerate growth of blockchain technology.
It will provide developers with unique, scalable architecture and safe smart contracts”. Speaking of this development, CEO Melpignano said:
“Kadena combines the functionality of blockchain tech with the accessibility of the internet we all know and use every day, making it the perfect platform for builders to create their projects. We work with developers and builders to launch their projects and back them up with the support they need to launch into the future. We have the resources and the infrastructure to create a multi-generational, sustainable ecosystem – there’s no better time than now for builders to get on board.”
Kadena said that its $100 million grant program will support founders and entrepreneurs for research and development, accelerator, incubator, and venture fund.